PRESS RELEASES

Randa Accessories Invests $25 Million in Infrastructure

FOR IMMEDIATE RELEASE New York, NY (August 2, 2013) – Randa Accessories announced today a $25 million investment in their logistics system, along with other enhancements and changes in infrastructure.

Randa Accessories, the world’s largest men’s accessories company, has grown from $100 million in revenue in 2000 to over $600 million in 2012, with continued growth planned. Randa is investing in additional personnel, training, equipment, ERP systems, sustainable resource management, and physical space to support its North American Logistics network. This network includes facilities located in New Orleans, Reno, Toronto, and Taunton, Massachusetts, which was added in May 2012 through Randa's acquisition of Swank, Inc.

In Reno, an additional Randa logistics facility of 275,000 square feet designed to achieve LEED silver certification will supplement the current distribution center. Together, these facilities will employ 155 people, including 120 newly-hired full-time associates, and will process more than 40 million units of neckwear, belts, wallets, luggage, bags, jewelry, footwear, and gifts annually.

The Randa New Orleans logistics center is adding new processing, storage and handling equipment, along with new specialized conveyors and logistics software. The entire facility is being upgraded to uninterruptable power supply. This facility will process more than 30 million belts and other accessories each year. No personnel changes at the facility are anticipated.

The Toronto logistics center is moving to a nearby larger building to support the growth of Randa’s Canadian business. This facility will have twice the showroom, office and warehouse space of the current building. Belts, neckwear, wallets, luggage, and accessories will be shipped from this facility.

Additionally, Randa has received approval for free trade zone status in support of its growing international business.

Based upon a comprehensive review of current logistics facilities, and the future needs of Randa and its customers, the Taunton facility will be closed at the end of 2013. Administrative offices at this location will remain open until the expiration of the lease in the first quarter of 2014. Randy Kennedy, Senior Vice President of Randa Accessories said, “We appreciate and respect the decades of service provided by the talented associates at the Swank Taunton facility and will offer interviews for job opportunities at other Randa locations.” Randa will provide job placement services for those wishing to remain in the Taunton area and Human Resources managers will be available to assist all associates.

About Randa Accessories

Randa Accessories is a global leader in men’s and lifestyle accessories. Collaborating with 75 leading brands, Randa designs, manufactures, and markets men’s belts, wallets, neckwear, small leather goods, luggage, backpacks, business cases, seasonal footwear, jewelry, and gifts. From its origins as a neckwear company over a century ago, Randa now provides fashion, lifestyle, luxury, and private branded products through retailers in all channels of distribution, worldwide. More information is available at www.randa.net.